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Fashion Jobs
BLOOMINGDALE'S
Manager, Sales - Home/Registry
Permanent · MILLBURN
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Bloomie's
Permanent · FAIRFAX
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Full Time - Roosevelt Field
Permanent · GARDEN CITY
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time - Metro Pointe
Permanent · COSTA MESA
BATH & BODY WORKS
Social Compliance Analyst
Permanent · NEW ALBANY
COLUMBIA SPORTSWEAR COMPANY
Principal Business Process Analyst - Finance
Permanent · PORTLAND
COLUMBIA SPORTSWEAR COMPANY
Product Manager
Permanent · PORTLAND
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, Starting Pay $15.25 Per Hour
Permanent · SACRAMENTO
UNDER ARMOUR
Account Manager, Wholesale Sales
Permanent · BALTIMORE
UNDER ARMOUR
Lead, CRM Analyst (Remote)
Permanent · REMOTE
URBN
Urbn IT Business Systems Analyst, Merchandising Systems
Permanent · PHILADELPHIA
URBN
Free People: Senior Buyer, Denim/Bottoms
Permanent · PHILADELPHIA
UNDER ARMOUR
Stock Teammate, Part-Time, Starting Pay $15 Per Hour
Permanent · TULALIP BAY
COLUMBIA SPORTSWEAR COMPANY
Operations Manager - Swing Shift
Permanent · PORTLAND
BLOOMINGDALE'S
Asset Protection Detective, Full Time, Roosevelt Field
Permanent · GARDEN CITY
BLOOMINGDALE'S
Manager, Sales - Fine Jewelry
Permanent · ORLANDO
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time, Bloomie's
Permanent · FAIRFAX
ADIDAS
Retail General Manager Adidas - Sawgrass Mills 6156, Sunrise, fl
Permanent · SUNRISE
URBN
Urban Outfitters Visual Merchandising Manager
Permanent · PALO ALTO
URBN
Urban Outfitters Visual Merchandising Manager
Permanent · TUCSON
URBN
Anthropologie Design Director - Furniture
Permanent · PHILADELPHIA
URBN
Anthropologie Design Director - Fabric & Textile Concept
Permanent · PHILADELPHIA
By
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Published
Aug 27, 2021
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Old Navy, Athleta power Gap sales forecast, shares jump

By
Reuters API
Published
Aug 27, 2021

Gap Inc on Thursday raised its full-year net sales forecast for the second time, betting on hot demand for its Old Navy and Athleta clothing brands as socializing makes a comeback with easing pandemic curbs.

Gap expects fiscal 2021 net sales growth of about 30% versus a prior forecast in the low-to-mid 20% range - Reuters


Shares jumped 7% in extended trading after Gap said Old Navy's net sales increased 21% in the second quarter from 2019 levels, while Athleta surged 35%.

San Francisco-based Gap also lifted its annual profit estimate, with both forecasts coming in above Wall Street expectations as the return to relative normalcy powers sales across the apparel industry - from department stores Macy's and Kohl's to discounters like T.J. Maxx.

Even clothing chains that had stocked up generously are running out of tops and dresses as schools and colleges reopen, and people celebrate weddings, graduations and group events again, analysts had said.

Gap is also benefiting from tie-ups with celebrities including rapper Kanye West and Olympian Simon Biles, while sharpening its focus on inclusivity.

Like its peers, the Banana Republic brand owner has been spending more on its digital business to tap the pandemic-accelerated shift to online shopping. Earlier on Thursday, Gap said it bought Drapr, a startup that lets customers try on clothes virtually.

"Stepped-up marketing investments, improved brand management, and technology enhancements are paying off," Chief Executive Officer Sonia Syngal said in a statement.

Gap expects fiscal 2021 net sales growth of about 30% versus a prior forecast in the low-to-mid 20% range. Analysts estimated a 24.3% growth, according to IBES data from Refinitiv.

The company forecast annual profit, excluding some charges, between $2.10 and $2.25 per share from $1.60 to $1.75 earlier. Analysts expected a profit of $1.80 per share.

Net sales rose 29% to $4.21 billion in the second quarter, beating estimates of $4.13 billion.
 

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